AMWatch

Competition clause of Nykredit's buy of Sparinvest was not vetted by authorities

A clause binding Sparinvest's banks to Nykredit for five years was not checked by authorities in connection with the deal.

When a large number of Danish banks sold the majority of fund provider Sparinvest to Nykredit last year, they committed themselves to selling Sparinvest products to customers for the next five years, if these products were as good as their competitors'. This clause has been criticized, and business daily Finans now reports that the competition authorities did not thoroughly examine it in connection with the deal.

"In this concrete case, we made people aware that the clause was a bit longer than what we tend to see in connection with business purchases, and that Nykredit should have got it analyzed separately by the competition and consumer authorities," says Søren Bo Rasmussen, who is responsible for mergers at the Danish Competition and Consumer Agency, to Finans.

Read the whole article

Get 14 days free access.

No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from AMWatch

Oil fund 2021 returns almost reach 15 percent

The three last years have been the best in the sovereign wealth fund's history, in NOK terms. CEO Nicolai Tangen and Deputy CEO Trond Grande don't expect the same good times going forward, however.

Further reading

Related articles

Latest news

Jobs

Latest news from FinansWatch (dk)

Latest news from EnergyWatch

Latest news from ShippingWatch